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Neiman Marcus jeopardizes ties with luxury brands

  

Neiman Marcus stores appear to be losing their grip on Gucci bags and other luxe goods since the swanky retailer emerged from bankruptcy last fall, The Post has learned. The apparent rift comes as Neiman Chief Executive Geoffroy van Raemdonck — who has racked up millions of dollars in bonuses before and since the bankruptcy — has been blasted by staffers for a tone-deaf approach to belt-tightening, flaunting his wealth in a glossy magazine spread last fall even as pink slips were being handed out.

Vendors smarting from unpaid bills have been ramping down their business with Neiman, according to sources. Even the firms that provide insurance for deliveries to Neiman are tightening their terms or suspending coverage, according to company documents.

The pandemic has been brutal for luxury stores and Neiman has been no exception. Moody’s Investors Service recently added Neiman to its bankruptcy watch list. Neiman’s in-store sales plunged 34 percent over the six months ended Jan. 30, while its online sales dropped 6 percent over the same period, according to the confidential March 18 financial document obtained by The Post.

 
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